facebook
Traded Co logo
Submit
Daily limit: 0/10

Dermody Properties Acquires Industrial Campus In Lacey For $132M

Property Image
SOLD
$132,000,000

Washington

See Similar Deals
Industrial717,000 SF
Sold 07/12/2023
the dealplayerscompscontact
Property Image
SOLD

Dermody Properties Acquires Industrial Campus In Lacey For $132M

3301 Hogum Bay Road Northeast Lacey, Washington 98516, USA

See Similar Deals
Industrial717,000 SF
Sold 07/12/2023
the dealplayerscompscontact
Contact now

Summary

WASHINGTON
Asset Type:Industrial
Price Per Square Foot:$184
Total Square Footage:717,000 SF
Transaction Type:Sale

Dermody Properties, represented by Ben Seeger, has acquired an industrial campus in Lacey, WA for $132 million. The 717,000-square-foot campus, known as Lacey I-5 Logistics Center, was developed by Bridge Industrial and is currently leased by Amazon. It consists of three buildings and is located at 3301 Hogum Bay Rd NE.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $132,000,000
  • Square Footage: 717,000
  • Price per Square Foot: $184
  • Address: 3301 Hogum Bay Rd NE, Lacey, WA
  • Market: Lacey, WA

Ben Seeger, representing Dermody Properties, led the purchase of the industrial campus, securing a significant asset in Lacey's real estate market. This strategic move allows Dermody Properties to expand its industrial portfolio and benefit from the existing lease agreement with Amazon. The acquisition of the Lacey I-5 Logistics Center adds to Dermody Properties' impressive portfolio of industrial properties.

Players

Dermody Properties
Dermody Properties
BUYER

Details

SOLD
IMAGE: Ben Seeger DATE: 07/12/2023 ADDRESS: 3301 Hogum Bay Rd NE MARKET: Lacey, WA ASSET TYPE: Industrial BUYER: Dermody Properties - Ben Seeger SALE PRICE: $132,000,000 SF: 717,000 ~ PPSF: $184 NOTE: Dermody Properties has purchased an industrial campus in Lacey for $132 million, which is currently leased by Amazon. The 717,000-square-foot campus, developed by Bridge Industrial, includes three buildings and has been renamed Lacey I-5 Logistics Center.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$7,039,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$468,968.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$625,747.34
Annual Debt Service$7,508,968.12